Technical Breakout Setups. Analyze the stocks with the best technicals forming a breakout setup pattern at the moment.
Nasdaq / Health Care / Biotechnology
Overall CNTA gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CNTA is showing a nice and steady performance.
CNTA has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 22.31, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CNTA in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
13.07
We found 4 important support areas.
- A support zone ranging from 22.30 to 22.31. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 17.49 to 17.57. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @16.30 from a trend line in the daily time frame.
- Support @13.20 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CNTA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNTA is up. |
| ChartMill Relative Strength | 91.44 | POSITIVE | CNTA has a high relative strength, it outperformed 91.44% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CNTA is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNTA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CNTA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.8 | NEUTRAL | The RSI value for CNTA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.24 | NEGATIVE | The MACD value suggests CNTA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 37.16 | NEUTRAL | The Stochastics value for CNTA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.19 | MEDIUM VOLATILITY | The ATR as a percentage value for CNTA suggests some volalility. |
| Average Directional Index/ADX (14) | 23.01 | NEUTRAL | The ADX value for CNTA suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 23.68 | 22.29 | 1.39 (5.87%) | 17.04% |
| An entry @23.68. This is a Buy Stop order right above the 10 day high. | An exit @22.29. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.39 points, which is 5.87%. | For a 1.00% total portfolio risk, you can invest 17.04% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CNTA. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.